Not by any stretch of the imagination is an M Performance model an "M product". Utter marketing claptrap, and I own an M Performance model.
M Performance models eg. M135i, M235i, M550d, X5/X6 M50d are considered as M models by BMW marketing & sales dept., and they are marketed as such (as a part of M program). The M Performance vehicle sales are also included in the total M GmbH annual sales figures. So ... that's how it is. Don't shoot the messenger.
